Maroc Telecom has 22.3% increase in operational turnover in Q3, 2007

Mergers, Acquisitions and Financial Results

The Maroc Telecom group had a consolidated turnover of MD6.1 million, a growth of 15.9% and an operational profit of MD2.8 million, a growth of 22.3% as a result of good results across its operations in Q3, 2007. This was mainly achieved through strong growth of ADSL and mobile and by holding down operating costs. This gives the company an operating margin of 46.6%, achieved by improving operating margins in both of the key growth areas.

Highlights of the results include:

- Maroc Telecom in Morocco has 11,372,000 subscribers, a growth of 665,000 subscribers since the same quarter last year. Despite stronger competition, Maroc Telecom retained a 66.4% market share.

- Blended ARPU was MD105.6, a fall of 6% since March 2006. However, the lowering of prices from promotional offers, particularly unlimited use ones, had grown overall volumes.

- Unlimited use offers also helped growth of fixed lines but more modestly. It has 1,271,000 fixed subscribers, a net growth of just 5,000 subscribers. Overall turnover of this activity dipped 0.9%.

- It now has 418,000 ADSL subscribers, a growth of 34,000 news subscribers.

- Mauritel contributed a turnover of MD290 million, up 28.6% on the same quarter last year. The main part of this turnover was contributed by its mobile activities where it achieved 687,000 subscribers, a growth of 39.9% on the same quarter last year.

- Onatel contributed a turnover of MD363 million, up 21.6% from the same quarter last year. Again the main part of this turnover was contributed by its mobile activities where it got 411,000 subscribers, up 52.5% on the same quarter last year,

There was no mention of the results from Gabon Telecom which have yet to be established.